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Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 156D, § 7.23

Current as of January 01, 2025 | Updated by Findlaw Staff

SHARES HELD BY NOMINEES

(a) A corporation may establish a procedure by which the beneficial owner of shares that are registered in the name of a nominee will be recognized by the corporation as the shareholder, to the extent provided in the procedure.

(b) The procedure may set forth:

(1) the types of nominees to which it applies;

(2) the rights or privileges that the corporation recognizes in a beneficial owner;

(3) the manner in which the procedure is selected by the nominee;

(4) a requirement for the certification by the nominee of the beneficial holders;

(5) the information that must be provided when the procedure is selected;

(6) the period for which selection of the procedure is effective; and

(7) other aspects of the rights and duties created.

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Cite this article: FindLaw.com - Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 156D, § 7.23 - last updated January 01, 2025 | https://codes.findlaw.com/ma/part-i-administration-of-the-government-ch-1-182/ma-gen-laws-ch-156d-sect-7-23/

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